REINACH, Switzerland – Specialty chemicals company Archroma, a portfolio company of US-based SK Capital Partners, has entered into an agreement to acquire the global textile chemicals business of BASF.
The business being acquired delivers products and technologies across the entire textile chemicals spectrum, with particular strength in the printing, finishing and coating chemicals segments. The acquisition complements Archroma’s textile dyes and chemicals portfolio and geographical presence. It will allow Archroma to reinforce its Textile Specialties team with a global specialist team that has an especially strong presence in Asia and other high-growth markets. Both BASF’s and Archroma’s textile businesses are headquartered in Singapore, close to the developing Asian textile markets and customers.
“With this agreement, we are bringing together the century-old history of BASF textile chemicals products, technologies and people with Archroma's already strong heritage from Hoechst, Sandoz and Clariant," Alexander Wessels, CEO of Archroma, notes. "Archroma already acquired 49% of textile manufacturer M. Dohmen in May 2014, illustrating our company’s determination to become the preferred supplier in our industries."
The transaction comprises the global textile chemicals business, as well as the legal entity BASF Pakistan (Private) Ltd., Karachi. It is subject to approval by the relevant antitrust authorities, and the closing is expected to take place by the end of the first quarter in 2015.